State pensioners may have to pay tax on their sum – check if you’re affected | Personal Finance | Finance
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The Government-backed website MoneyHelper has urged people to check they have paid the right amount of tax each year.
This is particularly the case if a person has a change in circumstances – such as retiring, or starting to draw a pension.
The website added: “If you don’t have other sources of income, such as other pensions or income from a job, and you started getting your state pension before April 6, 2016, you’ll have to complete a Self Assessment tax return each year if you owe any tax.”
This tax will then need to be paid directly to HM Revenue and Customs (HMRC).
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